Rockfire Resources to start drilling at Molaoi deposit in September

(Alliance News) - Rockfire Resources PLC on Friday announced it will begin drilling at the Molaoi zinc deposit in Greece in September.

The London-based mining firm said the drilling, which will take place before September 15, after the Greek August holiday period, consists of a 3-hole programme to reach an Indicated category of JORC resource.

Rockfire expects a maiden Inferred germanium resource will be estimated at the end of the next drilling programme.

"It is with great pleasure that we are able to inform the market of our start date for drilling. Our investors have been understanding during the permitting process, and we are most appreciative of their patience with this necessary process," said Chief Executive Officer David Price.

"The technical team has commenced informing, discussing and agreeing with the local landowners for access to their land for drilling. This process is on-going due to the large areal extent of the drilling, which will occur over a length of 2.2 [kilometres], and involving many landowners."

Shares in Rockfire Resources were down 2.4% at 0.12 pence in London on Friday afternoon. The stock is down 28% over the past year.

Price continued: "The market will be informed once drilling commences. In the meantime, our efforts on the ground to prepare for drilling and the many logistical aspects required for a drilling campaign will continue to progress in readiness for the commencement of drilling."

While drilling is underway, Rockfire will begin the feasibility study, some components of which have been fast-tracked due to two historical feasibility studies in Greece.

By Emily Parsons, Alliance News reporter

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